Aplia Homework Assignments
Week 1 (01.17.06-01.22.06)
None.
Week 2 (01.23.06-01.29.06)
-
Introductory Practice Problem Set
How to use online problems in practice mode.
Problem Set
Due by: Su, 01.29.06 11:00PM
6 Points/Practice
-
Introductory Graded Problem Set
How to use online problems in graded mode.
Problem Set
Due by: Su,
01.29.06
11:00PM
4 Points/Graded
-
Numerical Calculations Tutorial and Exercises
Includes an animated tutorial followed by problems to teach the basics
of performing numerical calculations. Concepts covered include: fractions,
percentages, percentage change, and percentage points.
Problem Set
Due by: Su, 01.29.06
11:15PM
25 Points/Practice
-
Numerical Calculations Tutorial and Exercises
Includes an animated tutorial followed by problems to teach the basics
of performing numerical calculations. Concepts covered include: fractions,
percentages, percentage change, and percentage points.
Problem Set
Due by: Su, 01.29.06 11:15PM
25 Points/Graded
-
Graph Tutorial and Exercises
Includes an animated tutorial followed by problems to teach the basics of
interpreting and building graphs. Concepts covered include: axes, labels,
units, scale, data, different scales, broken axes, and qualitative graphs.
Problem Set
Due by: Su, 01.29.06 11:30PM
32 Points/Practice
-
Graph Tutorial and Exercises
Includes an animated tutorial followed by problems to teach the basics of
interpreting and building graphs. Concepts covered include: axes, labels,
units, scale, data, different scales, broken axes, and qualitative graphs.
Problem Set
Due by: Su,
01.29.0911:30PM
32 Points/Graded
-
Slope Tutorial and Exercises
Includes an animated tutorial followed by problems to teach the basics of
understanding slopes. Concepts covered include: how to calculate the slope
of lines and curves, tangents, the relationship between slope and changes
in the height of a curve, how slope relates to the maximum and minimum of a curve.
Problem Set
Due by: Su, 01.29.0611:45PM
15 Points/Practice
-
Slope Tutorial and Exercises
Includes an animated tutorial followed by problems to teach the basics
of understanding slopes. Concepts covered include: how to calculate the
slope of lines and curves, tangents, the relationship between slope and
changes in the height of a curve, how slope relates to the maximum and
minimum of a curve.
Problem Set
Due by: Su, 01.29.06 11:45PM
15 Points/Graded
-
Marginal Costs and Marginal Benefits I
Builds skills in understanding decision-making on the margin, decreasing marginal benefit (willingness to pay), and increasing marginal cost. Prepares students for the accompanying graded Problem Set.
Problem Set
Due by: Su,
01.29.06 11:45PM
22 Points/Practice
-
Marginal Costs and Marginal Benefits II
Tests understanding of marginal analysis, including the choices of rational consumers and the concepts of diminishing marginal benefit and increasing marginal cost.
Problem Set
Due by: Su,
01.29.06 11:45PM
19 Points/Graded
-
Thinking on the Margin: Smallpox Vaccinations
Compares the costs and benefits of a smallpox vaccine in light of recent terrorist threats. Recognizes that the costs and benefits of the vaccine vary across individuals, based on health, likely exposure to smallpox, and other factors, so that the appropriate decision involves the extent to which the population is vaccinated and not whether to vaccinate everyone or no one.
News Analysis
Due by: Su,
01.29.06 11:45PM
4 Points/Graded
Week 3 (01.30.06-02.05.06)
-
Introduction to the Production Possibilities Frontier
Combines explanation and problems to teach the production possibilities model, including the concepts of efficiency, attainable and unattainable output, opportunity cost, and shifts in production possibilities.
Problem Set
Due by: Su,
02.05.06 11:00PM
22 Points/Practice
-
Production Possibilities I
Introduces straight line and curve production possibilities curves or frontiers and the concept of opportunity cost.
Problem Set
Due by: Su,
02.05.0611:00PM
21 Points/Practice
-
Production Possibilities I
Introduces straight line and curve production possibilities curves or frontiers and the concept of opportunity cost.
Problem Set
Due by: Su,
02.05.06 11:00PM
21 Points/Graded
-
Production Possibilities II
Applies the concepts of production possibilities curves or frontiers and opportunity cost introduced in Production Possibilities I. You can refer to the first Problem Set if you have difficulty doing this Problem Set.
Problem Set
Due by: Su,
02.05.06 11:00PM
19 Points/Graded
-
Habit or Prices?
Addresses the importance of price and opportunity cost vs. habit in explaining why Americans prefer traditional, top-loading washing machines to the new, front-loading machines popular in Europe.
News Analysis
Due by: Su,
02.05.06 11:00PM
3 Points/Graded
-
Increased Fuel Economy Sought
Incorporates tradeoffs, opportunity cost, and production possibilities frontiers to analyze the economic consequences of higher fuel-economy standards for automobiles.
News Analysis
Due by: Su,
02.05.06 11:00PM
4 Points/Graded
-
Introduction to Comparative Advantage
Combines explanation and problems to teach the theory of comparative advantage and the concept of gains from trade.
Problem Set
Due by: Su,
02.05.06 11:15PM
16 Points/Practice
-
Introduction to Comparative Advantage
Combines explanation and problems to teach the theory of comparative advantage and the concept of gains from trade.
Problem Set
Due by: Su,
02.05.06 11:15PM
16 Points/Graded
-
Gains from Trade I
Constructing and interpreting a production possibilities frontier, comparative and absolute advantage, gains from trade.
Problem Set
Due by: Su,
02.05.06 11:15PM
14 Points/Practice
-
Gains from Trade I
Constructing and interpreting a production possibilities frontier, comparative and absolute advantage, gains from trade.
Problem Set
Due by: Su,
02.05.06 11:15PM
14 Points/Graded
-
Gains from Trade II
Applies concepts related to gains from trade including opportunity costs, production possibilities frontiers, absolute and comparative advantage, specialization.
Problem Set
Due by: Su,
02.05.06 11:15PM
29 Points/Graded
-
International Trade
Tests understanding of international trade, including comparative advantage, supply and demand of imports and exports, and trade barriers.
Problem Set
Due by: Su,
02.05.06 11:15PM
11 Points/Graded
-
Winners and Losers from Trade
International trade creates many winners and some losers. Sometimes, a few losers in rich countries try to stop trade that would make winners of workers in very poor countries.
News Analysis
Due by: Su,
02.05.06 11:15PM
6 Points/Graded
-
Objections to Proposed Limits on Steel Imports
Early in 2002, firms in the steel industry asked President Bush to protect them from foreign competition, but firms and workers in other industries objected. Consumers should have protested too.
News Analysis
Due by: Su,
02.05.06 11:15PM
3 Points/Graded
-
Introduction to Demand
Combines explanations and problems to teach concepts related to demand, including willingness to pay, law of demand, and shifts in demand. Provides an animation that sorts people by willingness to pay to derive a demand curve and then asks students to plot a demand curve from raw data.
Problem Set
Due by: Su,
02.05.06 11:15PM
14 Points/Practice
-
Introduction to Demand
Combines explanations and problems to teach concepts related to demand, including willingness to pay, law of demand, and shifts in demand. Provides an animation that sorts people by willingness to pay to derive a demand curve and then asks students to plot a demand curve from raw data.
Problem Set
Due by: Su,
02.05.06 11:15PM
14 Points/Graded
-
Principles of Demand I
Builds skills in understanding the factors that shift demand curves or change the quantity demanded. Coverage includes normal goods, substitutes and complements, aggregating demand across individuals, and plotting demand curves. Prepares students for the accompanying graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:30PM
10 Points/Practice
-
Principles of Demand II
Assesses understanding of demand curves and schedules and of the factors that shift demand. Assign as a graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:30PM
10 Points/Graded
-
Changes in Demand I
Contrasts a shift in demand with a movement along the demand curve. Topics include law of demand, substitutes and complements, and normal and inferior goods. Prepares students for the accompanying graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:30PM
11 Points/Practice
-
Changes in Demand II
Applies the concepts and definitions presented in Changes in Demand I. Asks students to shift demand curves or to move a point along them. Assign as a graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:30PM
15 Points/Graded
-
Introduction to Supply
Combines explanations and problems to teach concepts related to supply, including reservation price, law of supply, and shifts in supply. Provides an animation that sorts people by reservation price to derive a supply curve and then asks students to plot a supply curve from raw data.
Problem Set
Due by: Su,
02.05.06 11:30PM
12 Points/Practice
-
Introduction to Supply
Combines explanations and problems to teach concepts related to supply, including reservation price, law of supply, and shifts in supply. Provides an animation that sorts people by reservation price to derive a supply curve and then asks students to plot a supply curve from raw data.
Problem Set
Due by: Su,
02.05.06 11:30PM
12 Points/Graded
-
Principles of Supply I
Builds skills in understanding the factors that shift supply curves or change the quantity supplied. Prepares students for the accompanying graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:30PM
12 Points/Practice
-
Principles of Supply II
Assesses understanding of supply curves and schedules and of the factors that shift supply.
Problem Set
Due by: Su,
02.05.06 11:30PM
12 Points/Graded
-
Falling Oil Prices on the Eve of War with Iraq
Considers the effect of war in reducing oil exports from Iraq and the offsetting effect of increases in oil from other sources, including strategic petroleum reserves. Provides a recent history of oil exports and prices, including a 20% reduction in oil prices the week before the war started.
News Analysis
Due by: Su,
02.05.06 11:45PM
5 Points/Graded
-
Introduction to Market Equilibrium
Integrates explanations and problems to teach about equilibrium price and quantity. Combines willingness to pay and reservation price to illustrate graphically the quantities demanded and supplied at each price and to show why free markets move to equilibrium. Explains shortages and surpluses and the pressure each exerts on price as well as how price ceilings and price floors may impede movement to equilibrium. Works through the effect of a tax in leading to a new equilibrium.
Problem Set
Due by: Su,
02.05.06 11:45PM
15 Points/Practice
-
Introduction to Market Equilibrium
Integrates explanations and problems to teach about equilibrium price and quantity.
Combines willingness to pay and reservation price to illustrate graphically the
quantities demanded and supplied at each price and to show why free markets move
to equilibrium. Explains shortages and surpluses and the
pressure each exerts on price as well as how price ceilings and price
floors may impede movement to equilibrium. Works through the effect of
a tax in leading to a new equilibrium.
Problem Set
Due by: Su,
02.05.06 11:45PM
15 Points/Graded
-
Principles of Equilibrium I
Builds skills in understanding equilibrium price and output, shortages and surpluses, and the effects of supply and demand shifts as well as inferring whether a new equilibrium results from a change in supply or demand or both. Prepares students for the accompanying graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:45PM
14 Points/Practice
-
Principles of Equilibrium II
Assesses understanding of equilibrium and disequilibrium and of adjustments from one equilibrium to another.
Problem Set
Due by: Su,
02.05.06 11:45PM
14 Points/Graded
-
Housing 1: Review of Supply and Demand
Considers supply and demand, equilibrium, and price elasticity of demand in the context of the home-building industry. Topics include price adjustments in response to shortages and surpluses and the effects of supply and demand shifts on equilibrium price and quantity. This is one of five
Problem Sets (Housing 1-5) to use this housing example.
Problem Set
Due by: Su,
02.05.06 11:45PM
19 Points/Graded
-
The Market for Organs
Examines economic and ethical issues related to a market for human organs. Government legislation bans the sale of organs for transplants, meaning that the market is not allowed to eliminate the organ shortage. Is legislation to provide donors a tax credit an appropriate solution to the shortage?
News Analysis
Due by: Su,
02.05.06 11:45PM
4 Points/Graded
-
Should the FAA Use Price to Reduce Congestion?
Considers whether airport takeoff fees should be raised during peak hours to reduce congestion and flight delays. Uses the tools of supply and demand to examine the effect of charging different fees at different hours of the day.
News Analysis
Due by: Su,
02.05.06 11:45PM
5 Points/Graded
-
Supply and Demand I
Some of the these questions were compiled from Changes in Demand I, Principles of Supply I, and Principles of Equilibrium I. Covers both sliding along and shifting of demand and supply curves as well as equilibrium determination of market-clearing price and quantity. Prepares students for the accompanying graded Problem Set.
Problem Set
Due by: Su,
02.05.06 11:45PM
24 Points/Practice
-
Supply and Demand II
Some of the these questions were compiled from Changes in Demand II and Principles of Equilibrium II. Covers both sliding along and shifting of demand and supply curves as well as equilibrium determination of market-clearing price and quantity.
Problem Set
Due by: Su,
02.05.06 11:45PM
22 Points/Graded
-
Price and Quantity of Used Textbooks
Reinforces the experiment's main lessons about how equilibrium price and quantity are determined. Asks students to identify shortages and surpluses, to predict the quantity exchanged and price, and to analyze the effect of increased demand.
Problem Set
Due by: Su,
02.05.06 11:15PM
12 Points/Graded
-
Gains From Trading Textbooks
Considers the gains from trade of individual buyers and sellers and illustrates the idea that competition
maximizes the aggregate gain for society.
Problem Set
Due by: Su, 02.05.06 11:15PM
11 Points/Graded
Week 4 (02.06.06-02.12.06)
-
Preparing for the Equilibrium Price and Quantity Experiment
Prepares students for the Equilibrium Price and Quantity experiment.
Problem Set
Sunday,
02.12.06 11:00PM
Not offered
-
Equilibrium Price and Quantity: Experiment
Assigns students the role of buyer or seller so that they can trade with their classmates in an online experiment involving used textbooks.
Experiment not offered
-
Equilibrium Price and Quantity: Analysis
Analyzes results of the Equilibrium Price and Quantity experiment. Re-interprets the experiment in terms of supply and demand to predict price and quantity and to calculate the gains from trade. Includes answers to questions that participants often have about what happened in the experiment.
Reading
Due by: Su,
02.12.06 11:00PM
-
Losses from Price Controls
Shows how price controls affect the trading gains of buyers and sellers while creating
shortages or surpluses.
Problem Set
Due by: Su, 02.12.06 11:00PM
17 Points/Graded
-
Efficiency I
Builds skills in understanding consumer and producer surplus and deadweight loss.
Includes an analysis of per-unit taxes. Prepares students for the accompanying graded problem set.
Problem Set
Due by: Su, 02.12.06 11:00PM
9 Points/Practice
-
Efficiency II
Builds skills in understanding consumer and producer surplus and deadweight loss.
Includes an analysis of per-unit taxes.
Problem Set
Due by: Su, 02.12.06 11:00PM
9 Points/Graded
-
Efficiency
Graphical and algebraic measures of consumer and producer surplus.
Problem Set
Su, 02.12.06 11:00PM
17 Points /Graded
-
Effects of Price Controls on Equilibrium Quantities I
Builds skills in understanding the consequences of price ceilings and price floors.
Compares equilibrium price and quantity with price and quantity outcomes when controls
are binding. Also considers when price controls have no effect. Prepares students for
the accompanying graded problem set.
Problem Set
Due by: Su,02.12.06 11:15PM
11 Points/Practice
-
Effects of Price Controls on Equilibrium Quantities II
Builds skills in understanding the consequences of price ceilings and price floors.
Compares equilibrium price and quantity with price and quantity outcomes when controls
are binding. Also considers when price controls have no effect.
Problem Set
Due by: Su, 02.12.06 11:15PM
10 Points/Graded
-
Price Controls
Effects of price floors and ceilings on price and quantity; shortage and surplus; binding or not.
Problem Set
Due by: Su, 01.12.06 11:30PM
17 Points/Graded
-
Analyzing Price Ceilings and Floors
Discusses and assesses understanding of the effect price controls have on equilibrium price and quantity.
Problem Set
Due by: Su, 02.12.06 11:30PM
17/Graded
-
Rent Control: Preventing Capitalistic Acts between Consenting Adults
Rent control is the economist's classic example of what happens when governments prevent
capitalistic acts between consenting adults. Good intentions, providing affordable housing
to working families, produce bad results: decreased supply of rent-controlled apartments,
increased prices for non-rent-controlled housing, and the creation of a bureaucracy to
prevent free trade between willing adults.
News Analysis
Due by: Su, 02.12.06 11:30PM
14 Points/Graded
-
Tax Systems I
Introduces concepts related to tax systems, including federal receipts,
marginal and average tax rates, taxes and efficiency, and taxes and equity.
Problem Set
Due by: Su, 02.12.06 11:45PM
20/Graded
-
Tax Systems II
Applies concepts related to tax systems, including taxes and GDP, marginal and average tax rates,
types of systems, taxes and efficiency, and taxes and equity.
Problem Set
Due by: Su, 02.12.06 11:45PM
22 Points/Graded
-
Taxes on Buyers and Sellers
Tests understanding of the main lessons about the effects of taxes on prices, quantity,
and gains for buyers and sellers.
Problem Set
Due by: Su,02.12.06 11:45PM
13 Points/Graded
Week 5: (02.13.06-02.19.06)
-
Preparing for the Price Ceilings and Price Floors Experiment
Shows students how to trade in the subsequent experiment on price controls.
Problem Set
Due by: Su, 02.19.06 9:00PM
4 Points/Graded
-
Price Ceilings and Floors: Experiment
Assigns students the role of buyer or seller so that they can trade in
an online experiment involving used textbooks in the presence of price controls.
The experiment has two variations: price ceilings and price floors.
Experiment
Not offered
-
Price Ceilings and Floors: Analysis
Analyzes results of the experiment involving price controls. Considers the
consequences of controlling energy prices in California and supporting prices
of agricultural commodities. Asks why governments continue to control prices.
Students should read this after the experiment has been completed.
Reading
Not offered
-
Gasoline Shortages in Iraq
Uses gasoline shortages in Iraq to show the effects of price controls.
News Analysis
Due by: Su, 02.19.06
11:00PM
9/Graded
-
Price Elasticity
Calculating and applying the concept of elasticity.
Problem Set
Due by: Su, 02.19.06
11:45PM
24/Practice
-
Price Elasticity
Calculating and applying the concept of elasticity.
Problem Set
Due
by: Su,02.19.06
11:45PM
24/Graded
-
Calculating the Elasticity of Demand for Car Trips in Central London
In February of 2003, London imposed a fee designed to reduce traffic congestion. Drivers entering central London must now pay a fee to do so. To predict the magnitude of the decrease in congestion or the increase in fee revenues caused by any change in the fee, London officials need a numerical estimate of the elasticity of the demand for car trips in the central city.
News Analysis
Due by: Su,
02.19.06
11:45PM
9/Graded
-
Price Elasticity of Demand
The World Health Organization claims that millions of lives could be saved if countries increased cigarette taxes by 10%.
News Analysis
Due by: Su,
02.19.06
11:45PM
5/Graded
-
Do Cheap U.S. Corn Exports Impoverish Mexico's Farmers?
Do cheap, subsidized U.S. corn exports impoverish Mexico's farmers? The article
gives two simple, but opposing, answers to this question. The article does not
provide enough information to choose between the two opposing answers. But we can
use economics to examine the arguments offered in support of each answer.
News Analysis
Due by: Su, 02.19.06
11:45PM
9/Graded
-
Price, Cross, and Income Elasticities
Price elasticity, together with cross-price and income elasticity.
Problem Set
Due by: Su,02.19.06
11:45PM
22/Practice
-
Price, Cross, and Income Elasticities
Price elasticity, together with cross-price and income elasticity.
Problem Set
Due by: Su,02.19.06
11:45PM
22/Graded
Week 6: (02.20.06-02.26.06)
-
Budget Line I
Builds skills in understanding spending constraints, constructing and interpreting budget lines, and showing the effect of a change in price or income. Prepares students for the accompanying
graded Problem Set.
Problem Set
Due by: Su, 02.26.06
11:45PM
18/Practice
-
Budget Line I
Introduces the concept of a budget line and shows how income and prices affect its position.
Problem Set
Due by: Su, 02.26.06
11:45PM
18/Graded
-
Budget Line II
Applies the concepts of a budget line and the effects of income and prices introduced in Budget Line I. You can refer to the first
Problem Set if you have difficulty doing this Problem Set.
Problem Set
Due by: Su, 02.26.06
11:45PM
18/Graded
-
Utility and Indifference I
Presents indifference curves graphically and mathematically, shows how to solve for utility and measure the marginal rate of substitution, interprets budget lines, integrates budget lines and indifference curves to derive utility maximization, illustrates indifference curves for goods that are perfect substitutes or perfect complements.
Problem Set
Due by: Su, 02.26.06
11:45PM
22/Practice
-
Utility and Indifference I
Presents indifference curves graphically and mathematically, shows how to solve for utility and measure the marginal rate of substitution, interprets budget lines, integrates budget lines and indifference curves to derive utility maximization, illustrates indifference curves for goods that are perfect substitutes or perfect complements.
Problem Set
Due by: Su, 02.26.06
11:45PM
22/Graded
-
Utility and Indifference II
Tests understanding of the concepts of preference and utility, budget line, and utility maximization.
Problem Set
Due by: Su, 02.26.06
11:45PM
24/Graded
Week 7: (02.27.06-03.05.06)
-
Production and Costs I
Introduces total, average, and marginal costs and relates them to the production function for a firm. Also covers economic profit, fixed vs. variable costs, diminishing returns, and long-run cost curves (including economies/diseconomies of scale). Prepares students for the accompanying graded
Problem Set.
Problem Set
Due by: Su, 03.05.06
11:30PM
13/Practice
-
Production and Costs I
Introduces total, average, and marginal costs and relates them to the production function for a firm. Also covers economic profit, fixed vs. variable costs, diminishing returns, and long-run cost curves (including economies/diseconomies of scale).
Problem Set
Due by: Su, 03.05.06
11:30PM
13/Graded
-
Production and Costs II
Tests understanding of short-run and long-run costs, production functions, and economic profit. Assign as a graded
Problem Set.
Problem Set
Due by: Su, 03.05.06
11:30PM
13/Graded
-
Housing 1: Review of Supply and Demand
Considers supply and demand, equilibrium, and price elasticity of demand in the context of the home-building industry. Topics include price adjustments in response to shortages and surpluses and the effects of supply and demand shifts on equilibrium price and quantity. This is one of five
Problem Sets (Housing 1-5) to use this housing example.
Problem Set
Due by: Su, 03.05.06
11:30PM
19/Graded
-
Housing 2: Cost Curves
Illustrates the relationship between the production function and costs for a home-construction firm. Reinforces the concepts of average fixed cost, average variable cost, and marginal cost while emphasizing the importance of implicit as well as explicit costs. This is one of five
Problem Sets (Housing 1-5) to use this housing example.
Problem Set
Due by: Su, 03.05.06
11:30PM
23/Practice
-
Housing 2: Cost Curves
Illustrates the relationship between the production function and costs for a home-construction firm. Reinforces the concepts of average fixed cost, average variable cost, and marginal cost while emphasizing the importance of implicit as well as explicit costs. This is one of five
Problem Sets (Housing 1-5) to use this housing example.
Problem Set
Due by: Su, 03.05.06
11:45PM
23/Graded
-
Housing 3: Short-Run Costs and Equilibrium
Uses the example of a construction company operating in a perfectly competitive market. Examines unit costs, marginal revenue, and profit; considers the optimal level of output and whether or not the firm should produce in the short run. This is one of five
Problem Sets (Housing 1-5) to use this housing example.
Problem Set
Due by: Su, 03.05.06
11:45PM
12/Graded
Week 8 (03.06.06-03.12.06)
-
Perfect Competition I
Builds skills in understanding the model of perfect competition.
Studies the firm as price taker, production decisions in the short
run and long run, profit, entry and exit, and equilibrium for the industry.
Problem Set
Due by Su,03.12.06, 11:30PM
16 Points/Practice
-
Perfect Competition I
Builds skills in understanding the model of perfect competition.
Studies the firm as price taker, production decisions in the short
run and long run, profit, entry and exit, and equilibrium for the industry.
Problem Set
Due by Su, 03.12.06, 11:30PM
21 Points/Graded
-
Perfect Competition II
Assesses understanding of the concepts introduced in Perfect Competition I.
Problem Set
Due by Su, 03.12.06, 11:30PM
22 Points/Graded
-
Housing 4: Short-Run Adjustments and Long-Run Equilibrium
Explores the short-run consequences of changes in fixed costs and market demand;
examines long-run expansion and contraction in a perfectly competitive industry.
This is one of five problem sets (Housing 1-5) to use this housing example.
Problem Set
Due by Su,03.12.06, 11:45PM
17 Points/Graded
-
Housing 5: Effect of Increased Worker Productivity
Illustrates how increased worker productivity affects a company's costs, production,
and profit in the short run and industry size and output in the long run. This is one of
five problem sets (Housing 1-5) to use this housing example.
Problem Set
Due by Su, 03.12.06, 11:45PM
12 Points/Graded
-
Branding Beef
Considers whether ranchers in Oregon can differentiate their product in order to
charge higher prices and earn greater profit.
News Analysis
Due by Su,
03.12.06,
11:45PM
4 Points/Graded
Week 9 (03.20.06-03.26.06)
-
Principles of Monopoly I
Definition of monopoly and contrast with perfect competition. Calculating profit
maximizing quantity, both graphically and algebraically.
Problem Set
Due by Su, 03.26.06, 11:30PM
11 Points/Practice
-
Principles of Monopoly II
Applies the concepts of monopoly introduced in Principles of Monopoly I.
You can refer to the first problem set if you have difficulty doing this problem set.
Problem Set
Due by Su, 03.26.06, 11:30PM
17 Points/Graded
-
Graphical Analysis of Monopoly
Offers practice in interpreting monopoly pricing graphs.
Problem Set
Due by Su, 03.26.06, 11:30PM
20 Points/Practice
-
Graphical Analysis of Monopoly
Offers students practice in interpreting graphs on monopoly. Includes questions on cost
curves, marginal revenue, monopoly price, profit, deadweight loss, and natural monopoly.
Problem Set
Due by Su, 03.26.06, 11:30PM
22 Points/Graded
-
Should Monopolists Cut Their Prices When Demand Falls?
Shows students that the optimal price for a monopolist need not fall when demand falls.
Requires only familiarity with demand curve. Does not require any prior exposure to monopoly
pricing. Does not use a marginal revenue curve.
News Analysis
Due by Su,
03.26.06,
11:30PM
4 Points/Graded
-
Introduction to Basic Price Discrimination
Combines explanation and problems to teach basic price discrimination, including its
definition, the conditions needed for its success, perfect sorting, and group pricing.
Problem Set
Due by Su, 03.26.06, 11:45PM
16 Points/Practice
-
Introduction to Basic Price Discrimination
Combines explanation and problems to teach about differential pricing. Lists the
conditions necessary for price discrimination; shows the effect of price discrimination
on consumer and producer surplus; provides examples and analysis of price discrimination
with a focus on perfect price discrimination and group pricing.
Problem Set
Due by Su, 03.26.06, 11:45PM
16 Points/Graded
-
Price Discrimination I
Builds skills in understanding price discrimination, including its definition,
what constitutes price discrimination, market segmentation, and profit maximization.
Problem Set
Due by Su,03.26.06, 11:45PM
10 Points/Practice
-
Price Discrimination II
Tests understanding of price discrimination, including its definition, what
constitutes price discrimination, market segmentation, and profit maximization.
Problem Set
Due by Su, 03.26.06, 11:45PM
10 Points/Graded
-
Is Financial Aid Price Discrimination?
What do you call charging different customers different prices for the same product
produced at the same costs? Economics students know the answer: price discrimination.
Colleges use a different term: financial aid.
News Analysis
Due by Su,
03.26.06,
11:45PM
7 Points/Graded
-
Regulation I
Introduces concepts related to regulation, including regulation of a natural monopoly,
economic and social regulation, and deregulation.
Problem Set
Due by Su,
03.26.06,
11:45PM
16 Points/Practice
-
Regulation I
Introduces concepts related to regulation, including regulation of a natural monopoly,
economic and social regulation, and deregulation.
Problem Set
Due by Su,
03.26.06,
11:45PM
16 Points/Graded
-
Regulation II
Tests understanding of concepts related to regulation, including regulation of a natural
monopoly, economic and social regulation, and deregulation.
Problem Set
Due by Su, 03.26.06, 11:45PM
13 Points/Graded
-
Satellite Television: Merger Grounded
What's a quick way to gain market share and eliminate competition? Buy your rival.
EchoStar Communication, the second largest firm in the rapidly growing satellite-television
industry, pursued this strategy, winning a bidding war for its bigger rival, DirecTV.
But a Justice Department lawsuit grounded the deal because it would have greatly decreased
competition.
News Analysis
Due by Su, 03.26.06, 11:45PM
6 Points/Graded
-
Introduction to Advanced Price Discrimination
Combines explanation and problems to provide further analysis of price discrimination.
Covers two-part tariffs, incremental discounts, incremental markups, volume discounts,
and menu pricing (pure and mixed bundling). Assign this set after students have completed
the "Introduction to Basic Price Discrimination" problem set.
Problem Set
Due by Su, 03.26.06, 11:45PM
17 Points/Practice
-
Introduction to Advanced Price Discrimination
Combines explanation and problems to provide further analysis of price discrimination.
Covers two-part tariffs, incremental discounts, incremental markups, volume discounts,
and menu pricing (pure and mixed bundling). Assign this set after students have completed
the "Introduction to Basic Price Discrimination" problem set.
Problem Set
Due by Su, 03.26.06, 11:45PM
17 Points/Graded
Week 10 (03.27.06-04.02.06)
-
Oligopoly and Imperfect Competition I
General questions about collusion and market structure.
Problem Set
Due by Su, 04.02.06, 11:00PM
7 Points/Practice
-
Oligopoly and Imperfect Competition I
General questions about collusion and market structure.
Problem Set
Due by Su, 04.02.06, 11:00PM
7 Points/Graded
-
Oligopoly and Imperfect Competition II
Collusion and imperfect competition, including numerical examples.
Problem Set
Due by Su, 04.02.06, 11:00PM
12 Points/Graded
-
Sticky Prices in the Adhesive Label Industry
Most of the printing stock for adhesive labels is supplied by only a few firms,
and the Antitrust Division of the U.S. Department of Justice is worried that prices,
perhaps already too high from collusion, will go higher if a proposed merger further
reduces competition. This news analysis uses the Herfindahl-Hirschman Index to calculate
the level of concentration in the adhesive labels industry.
News Analysis
Due by Su, 04.02.06, 11:00PM
6 Points/Graded
-
Introduction to Basic Game Theory
Combines explanation and problems to teach basic game theory, including the
components of a game, dominant strategy, and the prisoner's dilemma.
Problem Set
Due by Su, 04.02.06, 11:15PM
13 Points/Practice
-
Introduction to Basic Game Theory
Combines explanation and problems to teach basic game theory, including the components
of a game, dominant strategy, and the prisoner's dilemma.
Problem Set
Due by Su, 04.02.06, 11:15PM
13 Points/Graded
-
Game Theory and Strategic Interaction I
Shows how to calculate the equilibrium in a simple duopoly game and how to use a
dominant strategy to find an equilibrium.
Problem Set
Due by Su,
04.02.06, 11:15PM
8 Points/Practice
-
Game Theory and Strategic Interaction II
Finding equilibria in a duopoly game and other strategic settings.
Problem Set
Due by Su, 04.02.06, 11:15PM
9 Points/Graded
-
Introduction to Advanced Games
Combines explanation and problems to teach further concepts in game theory,
including Nash equilibrium, dynamic games, and leader-follower games. Assign this
set after students have completed the "Introduction to Basic Game Theory" problem set.
Problem Set
Due by Su, 04.02.06, 11:15PM
13 Points/Practice
-
Introduction to Advanced Games
Combines explanation and problems to teach further concepts in game theory,
including Nash equilibrium, dynamic games, and leader-follower games.
Assign this set after students have completed the "Introduction to Basic Game Theory" problem set.
Problem Set
Due by Su, 04.02.06, 11:15PM
13 Points/Graded
-
Monopolistic Competition I
Illustrates the implications of the free entry condition in monopolistic
competition.
Problem Set
Due by Su, 04.02.06, 11:30PM
8 Points/Practice
-
Monopolistic Competition II
Graphical analysis of market power with free entry.
Problem Set
Due by Su, 04.02.06, 11:30PM
10 Points/Graded
Week 11 (04.03.06-04.09.06)
-
Labor I
Builds skills in understanding labor markets. Topics include labor supply and
demand, profit-maximizing employment, human capital, economic rent, minimum wages,
immigration, occupational crowding, unions, and employment taxes/subsidies.
Prepares students for the accompanying graded problem set.
Problem Set
Due by Su, 04.09.06, 11:45PM
22 Points/Practice
-
Labor I
Builds skills in understanding labor markets. Topics include labor supply and
demand, profit-maximizing employment, human capital, economic rent, minimum wages,
immigration, occupational crowding, unions, and employment taxes/subsidies.
Prepares students for the accompanying graded problem set.
Problem Set
Due by Su, 04.09.06, 11:45PM
22 Points/Graded
-
Labor II
Assesses understanding of labor markets, including shifts in supply and
demand and wage differentials. Assign as a graded problem set.
Problem Set
Due by Su, 04.09.06, 11:45PM
29 Points/Graded
Week 12 (04.10.06-04-16.06)
-
Preparing for the Taxes and Welfare Experiment
Prepares students for trading in the experiment with the same name.
Author: Nicholas Smith Problem Set
Problem Set
Due by Su,04-16.06, 9:00PM
4 Points/Graded
-
Taxes and Welfare: Experiment
Adds taxes to the basic supply and demand experiment involving used books. Taxes are levied on either the buyer or the seller, depending on the version of the experiment.
Author: Paul Romer
Experiment
Su, 04-16.06, 9:00PM
Experiment Points:
50 points
-
Taxes and Welfare: Analysis
Analysis of the results from the Taxes and Welfare experiment.
Author: Paul Romer
Reading
Week 13 (04.17.06-04.23.06)
-
Preparing for the Market for Lemons Experiment
Prepares students for the Market for Lemons experiment. Provides trading tips and
explains the four variations of the experiment: full information, hidden information,
consumer protection laws, and product warranties. Assign as a graded problem set with
a due date prior to the start of the experiment.
Problem Set
Not offered
-
A Market for Lemons: Experiment
Assigns students the role of buyer or seller so that they can trade with their
classmates in an online experiment involving low- and high-quality MP3 players.
Experiment
Not offered
-
A Market for Lemons: Analysis
Analyzes results from the Market for Lemons experiment. Discusses asymmetric
information, naïve versus pessimistic beliefs of buyers, market failure,
adverse selection, and the role of consumer protection laws and warranties.
Students should read this after the experiment has been completed.
Reading
Sunday,04.23.06, 11:30PM
0 Points
-
Analyzing a Market for Lemons
Reinforces concepts learned in the Market for Lemons experiment.
Includes equilibrium price and quantity, the size of the total surplus,
and its distribution between buyers and sellers under the different
variations of the experiment.
Problem Set
Due by Su, 04.23.06, 11:30PM
21 Points/Graded
-
Public Goods I
Covers social and private benefit, free riding, taxes that avoid inefficiency.
Prepares students for the accompanying graded problem set.
Problem Set
Due by Su,04.23.06, 11:45PM
23 Points/Practice
-
Public Goods
Social and private benefit, free riding, taxes that avoid inefficiency
Problem Set
Due by Su, 04.23.06, 11:45PM
23 Points/Graded
-
Public Goods II
Assesses understanding of social and private benefit, free riding, and taxes that
avoid inefficiency. Assign as a graded problem set.
Problem Set
Due by Su,
04.23.06,
11:45PM
16 Points/Graded
Week 14 (04.24.06-04.30.06)
-
Preparing for the Tragedy of the Commons Experiment
Prepares students for the Tragedy of the Commons experiment. Assign as a graded
problem set with a due date before the beginning of the experiment.
Problem Set
Not offered
-
Tragedy of the Commons: Experiment
Illustrates the inefficiency of resources that are not priced and mechanisms such
as gifts or auctions of rights that can solve the inefficiency. Also shows the
efficiency and distributional effects of various government policies.
Experiment
Not offered
-
Tragedy of the Commons: Analysis
Analysis of the results from the Tragedy of Commons experiment.
Emphasis on understanding property rights, efficiency, distribution, and auctions.
Applies these concepts to radio-frequency spectrum and carbon dioxide emissions.
Reading
Not offered
-
Fishing and Hunting
Reinforces concepts learned in the Tragedy of the Commons experiment.
Problem Set
Due by Su, 04.30.06, 11:45PM
10 Points/Graded
-
Externalities
Definition and application of the concept of an externality, applying the Coase Theorem.
Problem Set
Due by Su, 04.30.06, 11:45PM
19 Points/Practice
-
Externalities
Definition and application of the concept of an externality, applying the Coase Theorem.
Problem Set
Due by Su, 04.30.06, 11:45PM
19 Points/Graded
-
Externalities and the Environment I
Definition and use of the concepts of negative and positive externalities and marginal
private and social benefits and costs.
Problem Set
Due by Su,04.30.06, 11:45PM
13 Points/Practice
-
Externalities and the Environment II
Illustrates the effects of regulation and property rights on firms' decisions about
pollution.
Problem Set
Due by Su, 04.30.06, 11:45PM
13 Points/Graded
-
Regulation of Sulfur Dioxide Emissions I
Examination of the effects of regulation of sulfur dioxide pollution caused by
electricity generation on marginal social and private costs and benefits, production
and consumption, and use of pollution-reduction methods.
Problem Set
Due by Su,
04.30.06,
11:45PM
21 Points/Practice
-
Regulation of Sulfur Dioxide Emissions I
Analyzes negative externalities in the electricity-generation industry by focusing on
the emission of sulfur dioxide. Compares the socially optimal price and output with the
outcomes in an unregulated free market. Considers alternative approaches to reducing waste
products and compares their relative cost-effectiveness. Prepares students for the
accompanying graded problem set.
Problem Set
Due by Su, 04.30.06, 11:45PM
21 Points/Graded
-
Regulation of Sulfur Dioxide Emissions II
Tests understanding of the effects of regulation of sulfur dioxide pollution caused
by electricity generation on marginal social and private costs and benefits, production
and consumption, and use of pollution-reduction methods.
Problem Set
Due by Su,
04.30.06,
11:45PM
10 Points/Graded
-
Protecting Wildlife
Over the last century, farmers have used technology to revolutionize the
productivity of farmland: we can now feed many more people with much less land.
Despite huge improvements in the use of sonar, nets, and boats, fishing seems to
be going in the opposite direction. The catch of many types of fish from the world's
oceans has been falling.
News Analysis
Due by Su, 04.30.06, 11:45PM
4 Points/Graded
-
Market Solutions to Pollution
The new Chicago Climate Exchange, which creates and trades credits in greenhouse gases,
is similar to the sulfur dioxide allowance program established by the U.S. Congress.
Both programs build new markets to limit pollution at the lowest cost and create
incentives to develop better and cheaper ways to decrease pollution.
News Analysis
Due by Su, 04.30.06, 11:45PM
4 Points/Graded
Week 14 (04.24.06-04.30.06)
-
International Trade I
This practice problem set provides an overview of trade theory. It uses the
production possibilities model to illustrate gains from trade and to generate
import demand and export supply functions. It uses market models to unravel
the effects of trade barriers. Though a case for protection is presented, the
presentation is obviously biased in favor of free trade.
Problem Set
Due by Su, 04.30.06, 11:45PM
17 Points/Practice
-
International Trade II
Tests understanding of international trade, including comparative advantage,
supply and demand of imports and exports, and trade barriers.
Problem Set
Due by Su, 04.30.06, 11:45PM
11 Points/Graded
-
American Furniture Made in China -- Consumer Bargains vs U.S. Job Losses
Assumes that students understand the concept of consumer surplus. Uses it to calculate
the gains to consumers from furniture imports. Also assumes that they know that a less
elastic demand curve has a steeper slope. (No elasticity calculations required.)
Using reasonable numbers, shows that the gains to consumers are much larger than
the losses imposed on workers who lose jobs in the furniture industry.
News Analysis
Due by Su,04.30.06, 11:45PM
7 Points/Graded
-
Do Cheap U.S. Corn Exports Impoverish Mexico's Farmers?
Do cheap, subsidized U.S. corn exports impoverish Mexico's farmers? The article gives
two simple, but opposing, answers to this question. The article does not provide enough
information to choose between the two opposing answers. But we can use economics to examine
the arguments offered in support of each answer.
News Analysis
Due by Su,04.30.06,
11:45PM
9 Points/Graded